Someone had asked me to chart this up two weeks ago if I recall and I'd set up a buy grid using Fibonacci, some trend lines and your basic Hi's / Low's and everything goes. I'll post the updated TA version in a bit here but we can see that at the very least, my stop market buy would have filled and a gain at the top of the Fib overlay I'd made at that time would have been met. So holy cow!! this beast popped hard. Not unusual for OTC stocks to pump like this and flash wick huge on the top side. I prefer consolidations, breakouts, gap fills and things like that so I personally would't do anything at the moment but possible wait for a cup & handle situation. Update posting in 3 . . 2 . .
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* * * Not investment advice * * * So the most recent breakout takes us to juuuust under the nearest high (on weekly). I've charted this down to the hourly to try and make better sense of localized directions. We've got a really clean 0.618 Fib retracement and it looks to have a formed a new right side of a Cup & Handle. I wouldn't be afraid to take a small DCA here but be wary of OTC pump and dumps. The Gartley says we have a local upside.
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Quick update . . looks like a full Fib retrace (very typical of OTC pump & dump)
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As requested, an update here on HDVY. I'm not personally crazy for the OTC stocks that pump & dump and unless you get in early, it's easy to get burned out of the gate. These OTC's very often fully retrace to where they broke out from and people just chase it all the way down as they FOMO in. If I really wanted to own HDVY I would very cautiously dollar cost average in and I "might" buy some here at the 0.618 Fibonacci level. Many traders would attempt a 2nd stage Cup & Handle breakout entry (we're in 1st stage from previous C & H and possibly viewed as forming another handle here) and they would set a "stop market" buy in just above the current high (pivot point) hoping to see it run up another 40-60% or more BUT, the guys moving it know this already and might pump it to the pivot point selling it off onto the plebs that tried this. I've seen these 2nd stage C & H fakeouts on OTC before and the retracements are just as deep leaving people with empty bags, not fun. Unless you're going to hold this for a longer period, again, my personaly strategy would be to DCA in slow and low, I might sell 1/2 on the next pop to cover my nut and just hold for the gravy later on. Again, not advice here, just sharing what I might do and DYOR.
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I wouldn't necessarily lump this is with the classic OTC P&D's as the volume on the dump side isn't considerable and fits in more with a Cup & Handle strategy. I "might" try and grab some around the Fib lows of $0.14-0.15. The earnings still suck and I don't really know the fundamentals on it, just charting what I see.
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Damn! Well at least you guys still have the 50 EMA . . and the 200 :/
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Damn . .
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Watching the action on this. Shouts to Latisha for dropping short interest stats on us!! Look for a short squeeze and possible retrace to the 50 EMA for support test.
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WOW!! Look at that REKKAGE!! Shrt interest did not disappoint and delivered an epic beat down to crash the 50. I'd expect more downside coming, possible engulfment of that bottom wick there.